There's a Dreyfus S&P 500 index fund with reasonable expenses that is still NTF at Scottrade -- not as low as Vanguard's, but pretty low. If you have at least $10,000 for it you can get into a Dreyfus index with a 0.20% expense (VFINX is 0.18% last I checked). For less than $10,000 the Dreyfus index fund has a 0.25% expense ratio.

Look at how much money you'd be moving and determine how long it would take before the slightly lower expenses of the Vanguard fund would save you the $17 you pay to trade it. The shorter that payback time is, of course, the better the option of eating the transaction fee and sticking with VFINX would look.

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